The most common and most likely answer to this crossword clue is the 5 letter word OFFAL
I've seen this crossword clue in The Times
O
F
F
A
L
More clues leading to the result OFFAL
- Meat product not available? Running short, entirely
- Waste from metal symbolically rendered
- Not the usual bits of meat loaf mixed with fine stuffing
- Meat for haggis, perhaps no longer fresh — a pound
- Liver maybe rotten, have meal without me
- Lungs not working? Not quite all
- Out on a limb initially – that’s rubbish
- King of Mercia primarily laying waste
- Old king left rubbish
- Refuse left by dyke builder
Buddy explains!

The straight part
We know that "Waste" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case waste = offal.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does OFFAL mean?
OFFAL noun- The internal organs of an animal, used as animal food.
- A by-product of the grain milling process, which may include bran, husks, etc.
- A dead body; carrion.
- That which is thrown away as worthless or unfit for use; refuse; rubbish.